U.S job data under focus

This week FOMC meeting showed surprise from the market side as most traders and analysts priced in a rate cut by the Fed this year as inflation subdued. However, the Fed Jerome Powell show optimism on the inflation rebound and cited will continue patiently to hold interest-rate steady at the current rate.

It is slightly bullish remark and sends U.S dollar higher. The index set to close the week with another winner, extend the bullish close to the third time.  Today job data will become the focus of the market and might provide the clue for equity market next direction.

Asian & European Stock market

Asian stock market mixed today. Japan stock market closed for the golden week holiday, China stock market also closed, and Australia ASX 200 down 2.60 points (-0.04%) to 6,335.80. European stock market mostly higher. DAX Germany up 0.31%, UK FTSE up 0.77%, Euro STOXX600 up 0.35%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA lost ground in the previous trading day and closed lower. The index weakness almost reaches the daily SMA 50. However, today we might see recovery upside as DJIA futures pointed upward 60 points before the market open. The overall trend is mild bullish as the index stays above 26,000 handles.

Gopro Inc (GPRO)

It is now or never for GPRO to bounce from SMA 200 and maintain the trend bullish. The share prices have been under pressure since $6.9 high. In the previous trading day, there is a bullish pin bar pattern which is a strong bullish pattern. If the bull could close the price above the candlestick high then GPRO might rally to print new yearly high.

Garmin LTD (GRMN)

GRMN dived after recent earnings result, the share prices soon will reach daily SMA 100 and could extend its weakness toward SMA 200. Traders could observe both levels for a chance to enter long positions when there are bullish reactions.